June 6, 2011. FPI’s James A. Parrott delivered testimony detailing the following points: Against the backdrop of an outlook for a very gradual and drawn-out recovery during which unemployment and economic adversity remain elevated, the Mayor’s Executive Budget proposal contains several harmful budget cuts that will curtail vital services in many critical areas. The City needs a more balanced approach to closing large budget gaps; this approach should reduce outlays on contracting out and find ways to enhance revenues. Testimony … (read more)

March 2, 2011. Despite Wall Street’s rebound, unemployment and hardship continue; at best, recovery will be very gradual. The revenue rebound does not make up for declining federal and state aid, particularly in education. Human services are being cut, while recent tax changes worsen the regressivity of the City’s tax structure. The City should begin to address several tax inequities and strengthen its revenue base. Briefing >>… (read more)

May 20, 2010. While Wall Street may have recovered, the average New York worker is still mired in the Great Recession. New York like most states has severe budget problems and not enough Federal aid; moreover, state and local government budget cuts will harm the local economy and slow the national recovery. In this context, the Mayor’s NYC budget proposal punishes workers and the poor but does not ask the well-off or Wall Street to share the burden. This presentation … (read more)

February 9, 2010. Despite Wall Street’s rebound, unemployment and hardship are extremely high for most New Yorkers; at best, recovery will be very gradual. This briefing finds that the Mayor’s proposed budget cuts and the state budget-related contingency cuts will worsen unemployment and hardship. To mitigate the harmful impact of the budget, increased federal fiscal aid is the highest priority, followed by progressive income tax increases – less harmful than budget cuts. Briefing >>… (read more)